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There was an 18% increase in fraudulent insurance claims in 2013 compared to the previous year, according to recently published figures by the Association of British Insurers (ABI). The total value of claims in 2013 was a record £1.3 billion, which is apparently more than double the cost the UK’s shoplifting bill.
The ABI’s latest figures on insurance frauds uncovered in 2013 show that:
"Insurance fraud is not a victimless crime, which is why the industry invests £200 million a year in fraud detection, including funding the Insurance Fraud Enforcement Department, and developing the Insurance Fraud Register, a central database of known insurance cheats,” explained Aidan Kerr, the ABI’s Assistant Director, Head of Fraud.
"The message is clear: never has it been harder to get away with committing insurance fraud; never have the penalties - ranging from a custodial sentence and a criminal record to difficulties in obtaining financial products in the future - been so severe,” he added.
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